Issue 25 | Thursday 16 December | What a finish to the year
Hi, Andrew Bell here for my last report this side of Christmas.
In terms of the real estate market, we finish 2021 on a very high note. First and foremost, it is wonderful to be welcoming back all of those we love, and importantly for the Gold Coast, all of those who love the Gold Coast. More on that in a moment.
Traditionally the real estate market slows by mid-December before taking off with a surge in activity straight after Christmas, but not this year. In looking at our records, we have generally had between eight to 10 auctions in any December over the past 10 years, but this year we have 43. 38 of those have already gone to auction and here is just a picture of the state of affairs: last Saturday we had three on-site auctions, 32 registered bidders, and all three sold to local buyers. All three properties sold over their reserve price with the highest sale at $1.8 million and just 24 percent over the reserve. There is certainly no softening in the Gold Coast property market.
We also had extraordinary results Thursday before last at our in-room auctions where 28 properties were submitted with all except three of those selling on the day, and all except one of those now having sold. A really strong finish to 2021 with a few remaining auctions over this weekend through until Wednesday of next week.
We are constantly asked, “what is going to happen now that our borders have opened and our fellow Australians from interstate can freely come and inspect properties to buy?”. No one can be sure, but we have an extraordinary number of people who have contacted us over the past couple of weeks lining up inspection times. They have stated they are coming as soon as the border is open, and they are coming to buy. Last Saturday when speaking with many of our interstate bidders who were on the phone, they said that they are more committed than ever to migrate to the Gold Coast. Some were from Sydney and some were from Melbourne, but they sang the same tune and that was that COVID had changed their whole perception of where they wanted to live and how they wanted to live and that the cities they had loved were no longer where they wanted to be and they are excited about their move to a vibrant Gold Coast with sensational weather and were so many of their friends and already moved to. So, we are expecting a greater commitment and a greater number of buyers from next week onward through this Christmas holiday break.
One of the issues throughout the last year has been the shortage of properties on the market for sale. We have gone to extraordinary levels to secure the greater number of listings we have ever had in January. January is of course when we host The Event and it is where we offer a broad selection of Gold Coast properties to our visiting tourists, and this year we will have a record number of properties from Tugun to the south, to Sanctuary Cove and Hope Island to the north, and out west to Mount Tambourine. There will literally be something for everyone as we have tried to make sure we are the one-stop location for anyone looking to buy property over the next four to six weeks. We also have our new projects which we have been super selective on to make sure we are only presenting new projects that will get off the ground and projects which are built by quality tried and tested developers, and ones that are correctly priced to the market. For our commercial buyers, you will be well catered for as well with a great selection of owner-occupier and investment opportunities.
We are still listing properties all the way through until the new year, so it is not too late for those sellers who want to be part of the biggest promotion of Gold Coast properties that has ever occurred on a local, national, and international basis. No stone will be left unturned to get the best result for you. For our buyers, register with us via the website on screen now and provide us with a little overview of what you are looking to buy so we can send you information on the wonderful selection of properties we have in The Event.
It has been a year where all our lives one way or another have changed. A year marred by lockdowns and separation from family and friends, and sadly with a division on how we should have handled this one-in-a-lifetime COVID pandemic. We still of course have the division around how we handle the differences between those who want to be vaccinated and those who do not, but what we do know is that Australia has fared better throughout this pandemic than almost anywhere else in the world. Less contagion, fewer deaths, and economically we have come through it better than everyone forecast, so we will all have different views but as we come together for Christmas with family and friends that many of us haven’t seen for a long period of time, I hope that all those differing opinions and positions over things such as vaccinations can be put aside. I wish for you and your family and all your friends that you have a happy, joyous, and memorable Christmas with love and goodwill. As we all get terribly busy with our preparations for Christmas Day ask yourself, ‘what would love do now?’. We have seen throughout this year what anger or resentment or bitterness has produced, but I hope with hearts full of love we will be more forgiving, more accommodating, more understanding, and simply extend love to everyone you come across and make for a wonderful 2021 Christmas/New Year.
I would like to extend my sincere thanks to the 2,200+ people who entrusted the sale of their properties with us throughout this year, and of course, the equal number of buyers who transacted through us, together with over 3,480 landlords who entrusted their property management portfolio with us, and well over 4,000 residential and commercial tenants who form part of our rent roll. Thank you for the confidence and the utmost trust in either the sale or management of your properties. That is over 54,000 properties that the Ray White Surfers Paradise Group has sold. A lifetime commitment from us to you and a lifetime of clients that we have the honour of calling great friends. That is why we are in business in the great times and in the tough times, it is because of our relationship with you.
Seasons Greetings to you from all of us here at the Ray White Surfers Paradise Group and we assure you we will be here to support you and work in your best interests as we go on a new journey in 2022.
Andrew Bell, OAM
Chief Executive Officer
The Ray White Surfers Paradise Group